Elon Musk and the road to success
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Loading...Elon Musk is among the top entrepreneurs who are in the news almost every day. He’s at number 94 on Forbes Billionaires and at #38 of most powerful people in the world
There are a lot of lessons in the success of Elon Musk especially for young entrepreneurs and here are some of them:
Trust your ideas
Elon Musk’s first startup was with Zip2-an online content publishing software for news organization. No one was convinced to share his shop listings on the web. Elon was so obsessed with his idea that he used to sleep next to the desk in the office and the other engineers used to wake him in the next morning. , but he believed in his idea, built it and ultimately sold it to Compaq for $407 Million.
Start early and be aggressive
Like the Web listings startup Zip2, Elon Musk started thinking about the Internet banking in very early days of the Internet. That is why he started an online payments transaction company the X.com, today known as PayPal.
Always do your homework
Musk, just like Steve Jobs, has that vast impact in different industries and sectors. You will find all different ventures in his portfolio like Zip2, PayPal, Tesla and SpaceX. The reason for his success- he is always prepared and always comes with a completed homework.
Hire fresh talents and trust them
Elon built his team for both SpaceX and Tesla mainly with fresh talents. While the inexperienced team can make big mistakes because of lack of experience, they still can produce great results with the energy they have and the dynamic leadership.
Change the conventional ways of working
When Elon Musk entered the Space industry, one of the main challenges for SpaceX was to challenge giant companies such as Boeing. His idea of reusable rockets and making breakthroughs in low-cost passenger flights into space, allows him to compete with the giants in the industry
Fight, fight and fight more
Elon Musk is a fighter, who strikes back very quickly. He fought X.com’s board of directors when they decided to remove him. At the edge of bankruptcy, Elon fought back, put all his stakes on the mortgage and pulled back Tesla Motors to the top.
Keep enjoying life, celebrate success
When he got his share from the sale of his first startup, he immediately bought an 1800 square-foot condo and moved there from his apartment which he used to share with three other people. He also bought the McLaren for $1 million and CNN recorded the event.
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